Tortoise Capital Advisors L.L.C. increased its stake in shares of Newfield Exploration Company (NYSE:NFX) by 15.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 260,658 shares of the energy company’s stock after buying an additional 34,449 shares during the period. Tortoise Capital Advisors L.L.C. owned approximately 0.13% of Newfield Exploration worth $7,418,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. Global X Management Co. LLC boosted its stake in shares of Newfield Exploration by 30.5% in the first quarter. Global X Management Co. LLC now owns 3,311 shares of the energy company’s stock valued at $122,000 after buying an additional 774 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Newfield Exploration by 3.3% in the first quarter. Pacer Advisors Inc. now owns 3,740 shares of the energy company’s stock valued at $138,000 after buying an additional 121 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Newfield Exploration during the first quarter valued at $175,000. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Newfield Exploration by 6.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,316 shares of the energy company’s stock valued at $183,000 after buying an additional 310 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of Newfield Exploration during the first quarter valued at $208,000. Institutional investors own 99.05% of the company’s stock.
Newfield Exploration Company (NYSE:NFX) opened at 26.44 on Tuesday. The company’s 50-day moving average price is $27.84 and its 200-day moving average price is $34.15. Newfield Exploration Company has a 52-week low of $25.46 and a 52-week high of $50.00. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 17.15 and a beta of 1.48.
Newfield Exploration (NYSE:NFX) last posted its earnings results on Tuesday, August 1st. The energy company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $402 million for the quarter, compared to analysts’ expectations of $413.70 million. Newfield Exploration had a return on equity of 33.17% and a net margin of 18.82%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. Equities research analysts expect that Newfield Exploration Company will post $1.93 EPS for the current fiscal year.
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Several equities research analysts have weighed in on the company. BidaskClub upgraded Newfield Exploration from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Williams Capital set a $45.00 price objective on Newfield Exploration and gave the stock a “buy” rating in a report on Wednesday, August 2nd. BMO Capital Markets reiterated a “buy” rating and issued a $34.00 price objective on shares of Newfield Exploration in a report on Friday. Royal Bank Of Canada set a $54.00 price objective on Newfield Exploration and gave the stock a “buy” rating in a report on Saturday, June 3rd. Finally, Barclays PLC dropped their price objective on Newfield Exploration from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the company. Newfield Exploration presently has a consensus rating of “Buy” and an average price target of $43.46.
About Newfield Exploration
Newfield Exploration Company is an independent exploration and production company. It is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. Its operating segments are the United States and China. Its the United States operations are onshore and focus primarily on large scale, liquids resource plays.
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